retake get the facts straight

The Phineas Corporation is using internal and external information from its marketing-information management system to determine the strength of the company's current business position. What is the company conducting?

A situational analysis

Which function of a marketing-information management system involves collecting facts and figures from internal and external sources on an ongoing basis?

Data gathering

What are the three functions of marketing information management

Data gathering, data processing and information reporting

External marketing data comes from sources outside the business such as:

trade journals.

One basic requirement of a marketing-information management system can help business to:

collect, process, and store data

A marketing-information management system can help business to

discover new markets.

A marketing-information management system should meet the requirements of the

individual business.

What function of a marketing-information management system involves the distribution of marketing information to those who make marketing decisions?

information reporting

One advantage of information generated by a marketing-information management system is that the information

is presented in an organized fashion.

Which characteristic of useful marketing information is represented by the statement "The benefits of using the information should be greater than the expense of gathering the data used to generate this information"?

Cost-effectiveness

What is the relationship between data and information?

Data is used to create information

Which function of a marketing-information management system involves changing the format of facts and figures to make them more useful?

Data processing

Which of the following is a good source of internal data:

Enterprise resource planning systems

Which of the following statements regarding marketing is true:

Marketing research is a component of marketing-information management.

Which of the following is most likely to help a marketer in setting up the marketing budget:

Next quarter's sales forecast

What characteristic of useful marketing information requires the information to be closely related to the situation in order to be of the most use?

Relevancy

The Thirst Quenchers beverage company is surveying prospective customers to determine demand for its newest soft drink. Thirst Quenchers is collecting _________data.

primary

When a marketing-information management system compares financial information form one time period with financial information with another time period, it provides a picture of the business's

profitability.

Marketers at GG Unlimited are using the company's marketing-information management systems (MkIS) to learn more about the effectiveness of the company's latest advertising campaign. This is an example of how the MkIS can be used to evaluate

promotional strategies.

Brandi is reviewing marketing information about the possible demand for a new product. In this instance, Brand's marketing information- management system is most likely to be helping her to

reduce the risk of product failure.